Mutual funds added a whopping 19.71 crore shares of ITC to their portfolios in March — a 16.1% month-on-month soar from the variety of shares they held on the finish of the earlier month.
In keeping with a Motilal Oswal observe, mutual funds collectively owned 140.91 crore shares of ITC on the finish of March.
In worth phrases, the ITC shares price Rs 11,120 crore had been purchased by MFs taking the full worth of those shares to Rs 60,360 crore — a 22.6% improve over February — this report estimated.
ITC was the most important addition amongst its largecap friends and its shares account for 1.9% of the property beneath administration (AUM) of the mutual funds, the Motilal Oswal observe stated.
ITC shares have gained 5% in March.
The FMCG counter stays among the many high 10 holdings of a number of mutual funds together with SBI MF (2.6%), ICICI Prudential (3.2%).
Standard in Markets
One other report by Nuvama revealed MFs’ house-wise exercise for March the place Aditya Birla SL MF added ITC shares price Rs 306 crore whereas Axis MF purchased Rs 356-crore shares of the corporate.
ICICI Prudential topped the charts buying shares price Rs 4,892 crore. Different consumers embody Kotak MF with shares price Rs 377 crore.
Whereas the March quarter shareholding information on the BSE was not up to date on the time of submitting the copy, mutual funds held 9.66% in ITC on the finish of the December quarter, information confirmed.
The inventory was buying and selling at Rs 426.35 on the NSE on Monday, down by Rs 3.75 or 0.87% over Friday’s closing value. The inventory has been a market laggard, shedding practically 9% in value worth in 2024. Up to now 12 months, its returns have been to the tune of seven%.
Additionally Learn: ITC, TCS amongst high largecap additions by mutual funds in March
(Disclaimer: Suggestions, options, views and opinions given by the specialists are their very own. These don’t signify the views of Financial Instances)
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